WHICH OPTION IS RIGHT FOR YOU?
When deciding whether to rent or to buy a home, make sure you’re aware of the pros and cons of each option. The following chart details some key considerations that will help you determine the right choice for you:
| Renting | Owning | |
| Costs | Fixed Monthly costs | Variable Costs |
| Equity | No equity | Equity built over time |
| Mobility | You’re free to stay or to move at the end of the lease. However, the owner may choose not to renew your lease. | You’re free to move whenever you want, although this often entails selling or leasing your home and doesn’t guarantee a buyer or renter |
| Upkeep | Aside from a possible up-front deposit, the owner pays for the upkeep | Costs of upkeep are entirely yours. |
| Initial Investment | Smaller amount of up-front cash | Generally calls for a larger up-front investment and a down payment |
| Personalization | Limitations on decorating and remodeling | No limitations on decorating and remodeling |
| Taxes | No tax advantages for renters | Potential tax advantages |
